Sector Snap: China cos. fall on lending worries

NEW YORK (AP) -- Shares of some companies based in China fell Monday on worries about tighter lending in that country.

Before Wall Street opened for trading, Asian markets were already sharply lower, led by a 5 percent plunge in China's Shanghai Composite Index. That was the index's biggest loss in four years. The decline was prompted by a government crackdown on off-balance sheet lending, which made investors worry about China's economic growth.